Reuters: Mergers News: Russia watchdog says govt backs its Telenor claim

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Russia watchdog says govt backs its Telenor claim May 2nd 2012, 14:31 MOSCOW | Wed May 2, 2012 10:31am EDT MOSCOW May 2 (Reuters) - Russia's government commission on foreign investment has backed an anti-monopoly claim seeking to overturn the recent increase by Telenor of its stake in mobile operator Vimpelcom, the head of the competition watchdog said on Wednesday. "Today we were talking about our actions in respect of the purchase by Norway's Telenor of (a stake in) Vimpelcom. It was done without permission of the foreign investment commission. Today we have got full support of our actions, in particular appeal to court," Igor Artemyev told reporters. Russia's Federal Antimonopoly Service filed a claim in a Moscow commercial court last month, alleging that Telenor's purchase of Vimpelcom shares in February violated the Russian Strategic Investment Law. The committee - called the Government Commission on Monitoring Foreign Investment - is chaired by Russian Prime Minister and President-elect Vladimir Putin and has sweeping authority over foreign investment in Russian companies.

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